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Lyten buys battery manufacturing assets from beleaguered Northvolt
Lyten, a Silicon Valley battery startup, announced today that it’s acquiring manufacturing assets from Northvolt, a Swedish battery manufacturer that’s
The company has struggled to scale up production of lithium-ion batteries, and it missed delivery of a large order from BMW, which nudged the automaker to nullify a €2 billion contract. When complete, the $1 billion facility will produce lithium-sulfur batteries destined for micromobility vehicles like scooters and e-bikes, and defense and space applications like drones and satellites. Lyten’s purchase of Northvolt’s Cuberg assets give it the equipment and space to produce up to 200 megawatt-hours of lithium-sulfur batteries in the Bay Area.
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